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congress, including the deal on the bush tax cuts that were made at year end. $2.4 trillion of deficit reduction over the next ten years. and all also agree that $is.8is- that $1.8 trillion was gutting expenses and a little more than $600 billion of this was revenues achieved through the year-end bush tax cut deal. so everwhelmingly what has been done thus far has been in spending cuts rather than new revenues. it is very important for us to know that. it is very important for folks to realize that democrats are willing to make are hard calls about spending. we've done it already. but the question before this body and the question before the house now is going forward, what do we do to achieve additional deficit reduction that's consistent with having a growing economy? and the approaches of the senate and the house on this could not be more different. the house approach basically says that all additional deficit reduction should be achieved by cutting spending. by looking at one side of the balance sheet. i do not know of a business, i do not know of a family, i do not know of other u
the sequester and in committee, democrats proposed to close those special interest tax loopholes that riddle our tax code, republicans said no. democrats proposed to offset unwise republican cuts to medical research like alzheimer's, cancer, diabetes research at n.i.h., republicans said no. democrats tried to cut the special interest spending in the tax code to offset republican cuts to students who rely on pell grants but republicans said no. mr. van hollen: i yield the gentleman another minute and a half. the chair: the gentleman is recognized. ms. castor: the democrats in the budget committee proposed to strengthen medicare and replace the republican plan to turn medicare into a voucher program. all it does is simply shift the cost tour families and older neighbors. mr. speaker, this republican budget is not consistent with american values. it is not fiscally responsible. it is a charade, it is a capitulation to the tea party. it does not serve us well in economic recovery and the ways we want to grow america. it's a plan for economic weakness. it's a receding vision of american greatness. in
and businesses and consumers do not want to hear, it's a new tax on the internet. even downloads from ituness, who thinks that is a good idea? not me, here is good news "the kudlow report" begins right now. president obama in israel for the first same in his presidency, securing the relations with the allie in the middle east, here is what he had to say when greeted by benjamin netanyahu. it's in our fundamental security interest to stand with israel. it makes us both stronger and more prosperous and makes the world a better place. >> so question is, what exactly is the president hoping to accomplish in israel. here now we republican former u.s. ambassador and dan senor the coauthor of start up nation. joining me here on set for the hour, ryan grim, huff post washington bureau chief, and tony frato, former white house deputy press secretary. welcome to one and all, if i may go to you first, ambassador, there's all this media chatter that i'm reading today that president obama the not know what he wants to do and he has no agenda. it's said that he was the first u.s. president to visit israel
on a new tax release coming in the years for the creative industries like high end television and animation with new support for our world class visual effect. to help small firms increase. spend through the small business research initiative. we will fund the proposal po make growth available to small firms seeking advice on how to expand. and putting new control on what regulators can charge by giving a new requirement to have a -- growth perspective of employers. mr. deputy speaker, a vital sector for our economy and the cost of doing business is energy. creating a low carbon economy is done by create jobs rather than -- was a major step forward for new nuclear. today with help of we are also announcing our intelligence to take two projects to the next stage of development will support the manufacture of mission vessels in britain with new takes incentive and the honorable members has urged do you passionately and in a nonpartisan way about the damage of doing the famous ceramic industry and persuaded me we will exempt from next year the industrial processes for the industry and others f
in the mine. the amazing thing is that although the central banks have been taxing myself deposits, giving negative interest rates and by a depreciating currency, like 26% depreciation in last 10 years, the ecb would come out so openly. that is the shocking thing. and of course, people should be very worried about what happened in argentina. they froze deposits and withdrawals so that this could spread. as we look at the united states and europe and the way that the politicians are running the show, it'd heading for disaster. as simpson-bowles said, it is a cancer. there is a time when bank deposits will be threatened if we continue even if the united states and europe -- people go to banks today thinking that it will be okay to. neil: that is a good point. not that it would be imminent or a near-term threat. but the fear is, here is a vulnerable little country where this is looking like a real fear. what about greece? what about portugal? >> i mean, this is western country. the last i heard is that europe is part of the west. >> what is your fear? >> my fear is that if things go awry in
to identity theft, especially during tax season. >> announcer: every year, millions of americans learn all it may take to devastate your life is a little personal information in the wrong hands. your identity needs protection, and no one does it better than lifelock. >> identity thieves steal from everyone. you have to protect yourself. i protect myself with lifelock. >> announcer: lifelock offers the most comprehenve identity theft protection, period. and lifelock ultimate was named "best in detection". lifelock's 24/7 proactive protection alerts you as soon as they detect an attack within their network, before it's too late. lifelock protects your social security number, money, credit, even the equity in your home. while identity theft can't be completely stopped, no one protects you better than lifelock. and lifelock snds behind that with the power of their $1 million service guarantee. you have so much to protect and nothing to lose when you call lifelock right now and try 60 days of identity theft protection risk-free. 60 days risk-free! use promo code: taxrefund. order now and get th
at as nation's governments weighs a new bank account tax. there would be a 3% tax for deposits under $100 thousand euros, and a 10% tax and 15% tax for amounts larger than 500,000 euros, country central bank declaring a holiday until thursday, when they vote on the plan, this is sparking investor fears at home, joining me now lance roberts, host of street talk live, and xena. partner and cfa, welcome all, great to have you here, lance, i'll start with you, i have to assume some wealthy individuals are having questions about safety of their money, have you gotten any calls, are you expecting any? >> i'm not expecting any but i would not be surprised to see people talk more about this in next few days it is very late tonight anyway it looks like they will preserve the under $100 thousand mark and go after larger deposits, but the question, here in u.s., could it happen here? probably not. but the question is, ha hasn't t already happen with standpoint feds suppressing interest rates, that is the rate less than inflation, negative interest rate it has already happened here. gerri: let's go t
to end medicare as we know it. nobody, as in the ryan budget, wants to reduce taxes dramatically on the wealthiest americans -- 39% to 25% -- and then take away deductions from middle-class people, good deductions that make sense like the mortgage deduction, the charitable deduction, the retitle deduction, the health care reduction. no, no wants to do that. and no one wants to eat our seed corn. investment in education, investment in infrastructure, investment in sign b scientific research in order to keep narrow loopholes open, reductions if you move the business overseas. no, they don't want to debate that. but now we have a budget. because of the leadership of the chair of the budget committee and the members of her committee -- and, by the way, this is no -- this is not a small group of democrats. it runs from our most liberal members to our most conservative members, all united around the budget that is fiscally responsible. it meets the gramm-rudman -- i mean, i'm on old guy -- the simpson-bowles constraints, budget target. it invests in jobs in the economy, and closes loop
and a member of the ways and means tax writing committee. if you would, starts by bringing us up-to-date on where the house is when it comes to the continuing resolution and the 2014 budget. guest: the continuing resolution which funds the government was passed out of the house a couple of weeks ago. the senate has been dealing with that. they passed it last evening. it is back in the house, and we will likely pass that today, which is good news because one of the things that we included was the spending reduction, the appropriate spending reduction so we can try to get this economy back on track. excitingt is an activity that is been on the house floor these past two days. we will likely pass that out of the house of representatives today. this is a budget by paul ryan that will allow us to get to balance. that means the government will stop sending more money than it takes in by the end of the decade, which is really exciting. what that allows us to do is to get the economy rolling, jobs being created and provide more certainty so young people coming out of college know there i
by adopting cuts but in the tax codes, the tax breaks, the tax credits that are loaded up in the tax code that go mostly to the wealthiest americans. you are talking about getting rid of the tax benefits or loophole? >> that's exactly right. >> give me an example of this. is there enough money there? >> absolutely enough money to over $1.2 trillion over 10 years. we could get it, for example, from the corporate deferral on-shore profit did companies that make their profit did overseas, did he ever their payments, sometimes never pay them, and >> bill: that just encourages people to move their money or jobs offshore? >> it's an incentive. >> why should we be rewarding them for exporting jobs basically? >> what these corporate interests and wealthy americans do is hide spending in give them a check? we would is a no way. in the tax code, nobody is really examining that. >> bill: exact. >> special tax -- well, mortgage interest deductions for second homes. not just a first home. i will tell you, a big one is the fossil fuel subsidy. i am talking about oil an
for medicare. or else i lose my provider, and i think that's a tax they are putting on people with -- bilities and trying to got to pay on their disability. and those with legionnaires disease or h.i.v., dirty needles. host: ray, atlanta, georgia, republican party. good morning. caller: good morning. very interesting conversation you're having this morning. i have found that most people pend a fairer amount of time planning for their vacation than for their retirement. i work with a fortune 10 company and have been with them for 28 years so at the water cooler hearing different conversations if you ask people how much money they have in their 401-k, a lot of them have no idea nor do they have any idea on the different plans to put their money in. it's rather appalling, actually. host: ray, how old are you? caller: 52. host: when do you plan to retire? caller: i'm going to work until i'm 62-63 years old. something about public america, i have a -- family members with retirement pensions about $65,000. being in corporate america my pension is nowhere near that, so if we don't save in our 401-k t
were struggling under he harsh new austerity measures, the ryan plan would cut tax billers in most fortunate. last year the joint economic committee estimates that ryan's tax plan would lower taxes for millionaires by about $300,000 while raising taxes for individual taxpayers earning between $30,000 and $100,000 by over $4,000. how fair is that? at a time when income inequality is widely viewed as a very serious problem in our country, the ryan plan would make it worse. the gap between the haves and the have-nots would grow larger under the ryan plan. the ryan plan would ask tens of millions to bear additional burdens, pay additional taxes, face additional hardships. while it cut taxes for the fortunate few and preserved loopholes for big oil and spent an additional half million dollars on the military over the next 10 years. and at the end of a decade of paying -- of painful cuts, according to the nonpartisan tax policy center, the ryan budget would have managed to actually add $5.7 trillion to the deficit . a close look at the math makes it clear that the ryan budget can't recou
their carry-ons with them? if you are tired of washington's high taxes and big spending here is one way to stick it to the man >> tom: okay, you go first. i'll be right behind you. i have seen a lot of tax protestors and they do put them in prin when they don't pay their taxes. yes, people go to jail. i'll let you fight the battle first. thanks to everybody that contacted the show. keep your comments coming in. tom sullivan show, we're open for business 24/7. check out our facebook page, and then tom sullivan show. there is a lot of tom sullivan show, you can follome on twitter at sullivan radio and all the things to contact us on the web my main webpage which is tomsullivan.com. thanks for joining us. make sure to tune in to the radio show. listen in through our fox news radio app. download it from itunes. you can hear us online by clicking live button on my main website. we or radio every day from 3:00 to 6:00 p.m. eastern time. we'll have another great show lou: good evening, everybody. thank you for joining us. the dow jones industrials three consecutive record closes in did today a
now, speaking of cyprus, the idea of confiscating people's income after already been taxed sent a chill far beyond cypress. could that happen here? that is question we ask steve forbes, fox chairman and editor-in-chief. he has thoughts on that you don't want to miss coming up on the "countdown to the closing bell" -- "after the bell" [ male announcer ] at his current pace, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritrade. it's just common sense. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. ♪
-called vice taxes. you have probably heard the sequester cuts go after about $44 billion in this fiscal year. let me give you a sense of this. taxes on tobacco and alcohol and gaming, gambling, lotteries, generated together $75 billion compared tough sequester, that taxes are doing a very powerful job. that is, federal, state and and local revenue. two states, two states have legalized the recreational use of marijuana. they are colorado and washington . colorado collects more than $5 million in sales, $5 million in sales from dispensaries, pot dispensaries, marijuana. washington is reportedly collecting some $750,000 in taxes, although they have been having trouble getting dispensaries registered with the state. it is affecting their revenue. pot smokers procrastinating. hard to imagine. well, regarding that $13 billion pornography industry, 13 billion. california is earning about $36 million per year just in revenue from the porn industry. it's worth about a billion dollars overall to the economy, just in southern california. we we are on the subject of sex in addition to the so-called vic
't the president, but the governor of california, and tax reform happened in that state. and it wasn't until later, ironically back in california, when ronald reagan as the president signed into raw the economic recovery -- into law the economic recovery act. real reform happened in the states. as was mentioned yesterday, there are now in america some 30 states that have republican governors and nearly as many that have republican legislatures. [applause] and so that's the good news. the good news is we have success, and it's happening in our states, and we can learn from that to tell our friends and our colleagues in washington how to move forward. because, you see, in the states to be successful we have to be optimistic. we have to be relevant. and most importantly, we have to be courageous. let me talk to you a little bit about each of those three things. you see, when it talks about being inspirational and optimistics, one of the things that's interesting is when i first ran for governor -- i have to say first because who would have thought i'd have to get elected twice in the same term -- [la
hear how much the $338 million jackpot breaks down after they pay taxes. "fox & friends" starts now. >>steve: welcome back to the studio. look who's back after a long vacation. >>gretchen: i knew that rooster called this morning. >>brian: is that how you got up? >>gretchen: i didn't sleep that much. i'm on a three-hour time delay. but glad to be back. nice to come back to a snowstorm on the east coast. >>brian: did you get my promo this morning? >>gretchen: i saw your lips moving and if i was reading lips correctly, i thought i heard you say? >>brian: gretchen carlson will debut her entire vacation picture by picture day by day. >>gretchen: i believe 7:30 eastern time i brought one picture. i needed marlon perkins on vacation. that's the clue. >>steve: he's unavailable. >>gretchen: i was pulling a brian for a moment. he always refers he needs marlon perkins and then we have to tell him he's no longer with us. it has to do with an animal that was very dangerous. stay tuned. great to be back. in the meantime let's get to your headlines. a last-minute deal to bail out cyprus. in exchan
now that they are working on does nothing more than raise taxes. they want more of your money, more money out of your paycheck. ask yourself does washington really need more of your money? we are $16 trillion in debt. we have deficits we can't even wrap our arms around, and they want more of your money. if you were a financial advisor that put you $1 million in debt and ripped through your college savings for your children and all of your checking account and said, just give me more money and we'll solve the problem, would you do it? absolutely not. more than jobs, though, we are also working to save medicare and social security, the commitments that we have made to the american people. so let's take a look here at the big picture. here's a budget breakdown of where we are at right now. look, your eyes are glazed over and we start talking about the trillions of dollars that we spend, but let's take a look at what you pay versus what you expect. this big blue part right here? that's on auto pilot. no adults have come to the table to talk about where we are at today and how to actuall
, was reportedly looking at real estate opportunities on the island. a new law would eliminate taxes on gains from the $9.5 billion he has invested in his own hedge funds. his fund released a statement last friday that indicates he has no plans to permanently relocate. survey says... mark zuckerberg is a top ceo. zuckerberg topped glassdoor.com's list of top ceos of 2013. ceos from sap, mckinsey & company, ernst & young and northwestern mutual rounded out the top five. meanwhile, tim cook slipped from the top spot last year to 18th. employees of the companies vote on their ceo, which means facebook employees really "like" their boss. ceo salaries are under scrutiny as recent filings reveal the earnings of the top brass. according to reports, john stumpf of wells fargo is the highest paid head of a major bank. on the heels of rising profits, his compensation package last year was nearly $23 million. in the automotive sector, ford ceo alan mulally took a pay cut but still made more than his peers at gm and chrysler with $21 million. and in a 25-year-long tradition, warren buffett still makes $100,00
taxes taken out of the pockets of hardworking american families, more government spending which adds to the trillions of dollars in debt that will be handed down to the next generation. our friends on the other side of the aisle talk about a balanced approach, but they refuse to even balance their own budget. our vision calls for a stop to washington's failed policies and reckless spending. it says american families and small businesses understand you can't spend more than you take in. you need to balance your budget, and it's time for washington to do the same. this vision seeks to protect the things that we value most, to keep the promises we made to our seniors, to our veterans. i'm the son of a u.s. marine. while at the same time allowing us to leave a better future for our kids and our grandkids, that's the vision i want to work toward and that's why i'm proud to support the house budget committee's proposal which we'll be voting on later this week. this isn't about passing a budget for one year, just one time. this is about creating lasting solutions that help grow our economy
trade that stuff and make money off of it if you buy enough quantity. it is triple tax-free. anything related to california, municipalities, people are buying them. they are buying them at discount and they are trading them. they are clipping the coupons. do they hold them until maturity? maybe not. here is one more, yankee stadium that that was issued to basically build the garage, again, buying with pennies on the dollar. you do not necessarily hold it until maturity. this is a trade. trade detail risk. big risk here. you can make some money. >> i will follow your advice and not go into this market. california, basketcase when it comes to taxes. it seems too low if they are trading at pennies on the dollar. charlie: it is the real distress stuff like this west virginia tobacco bonds. why aren't the tobacco bonds distressed? when you raise taxes, people will not smoke. they will not pay the taxes. as a trade, you can make some money. jon corzine rolled the dice with short term, i it was italian bonds and spanish bonds. his dad turned out money good. people lost confidence in his abil
will have to come along with tax increases. this deal still hurts. >> i do not think there is any denying that the cyprus people will have to go through tough times and will suffer the consequences. we had to adjust over relatively a short period of time. rich: now the question is what does this mean for the rest of the euro zone? this, the bailout should be a template for the rest of europe and banks should be reduced. back to you. connell: rich edson lives in cyprus. trading halted in some of those italian banking stocks also added the comments in terms of a template. time to bring in axel merck. your thoughts? >> good morning. when someone screams fire, you do not want to shut the accident. halting stocks, i do not think, is helpful at all. i think it is rather responsible. the question is what will happen. obviously, investors are taking action. connell: you just look at the big board here in the united states and the green at the beginning of the day has now turned red. european markets losing some steam. you talk about the italian banks and how it would not be a good idea to halt th
for considering is the tax and spending blueprint for fiscal year 2014. live coverage at 2:15 eastern here on c-span2. south carolina is holding a primary today in the 1st congressional house district. here's a look at that race. >> host: well, here is the front page of the state newspaper this morning, a story by gina smith for the island packet. turnout will decide today's election for the 1st congressional seat in south carolina. gina smith is joining us on the phone this morning. of gina smith, tell me about this race. who's running and why? >> guest: well, good morning from south carolina. this is like christmas morning for me, i'm so excited. [laughter] this is really an exciting race. we have 18 republicans, two democrats, an incredibly crowded field. but some of the names in this race just make it just delicious to watch. we have mark stanford, the former -- sanford, the former governor who most of the nation remembers as the guy who slipped out of the country in 2009 so he could go visit his mistress, and he -- everyone thought he was hiking the appalachian trail, but he was up to some
for 1 trillion in tax increases over the next decade. elizabeth plan will break it down at the bottom of the hour. president obama wrapping up four day tour in the middle east. before leaving israel the president managed to broker a an apology from netanyahu to the british prime minister over commando raid turkish ship that killed 8. he admitted mistakes were made in 2010 as forces were nato embargo. >> can i tell you about this meteor? >> i love that i was up up all night tracking this. this was the meteor they were talking about if you live along the east coast. it's all anybody is talking about. video of reportedly a meteor over a home in maryland from north carolina all the way up to maine. hundreds of people reported official across the sky. claims to captured the security video too. nasa experts says the space rock was probably the size of a softball or volleyball. they are not sure what size ball it was. perhaps a basketball. it burned up in the atmosphere though. >> alisyn: thank goodness. thank you for monitoring that. please call me immediately if you see it heading towards
their taxes as well. we're talking about the thousands of government federal employees dodging the i.r.s. should they be fired? we've got an update on that this morning. >>brian: you think a woman's cheating husband would get the message. after she uses a billboard for revenge. but the best part is how she paid for it. look at that. "fox & friends" starts right gnaw. >>steve: welcome to march madness live here on the "fox & friends" set. >>alisyn: good to be with you all. >>steve: the president is out of the country, 50-hour sprint in israel. we have a situation where a lot of you are saying it is so cold here, i can't wait for vacation. we have a great segment in about 20 minutes. we have the founders and c.e.o. of 14 sandals, three beaches. wouldn't they like to see alisoe just as a token. we might have a beaches bureau. >>alisyn: let's do it. i volunteer. let's talk about the middle east. the president is making his first trip to israel since becoming president and there's a lot of tension, including this attack with rockets fired across the border. >>steve: indeed. somewhere in g
states, and they now get taxed more because they're taxed as single people when the estate tax is looked at. one of them died. now, the supreme court can do a number of things here. number one, they could just say, listen, if you enact gay marriage, it's illegal to ban it. that would only affect a very lifted number of states. but they also could hit it in a much bigger way. they could say gay marriage is protected as a privacy right under the u.s. constitution. and they could issue a sweeping decision legalizing gay marriage throughout the united states. now, most constitutional scholars don't think they'll go that far, but you know something, they could if they wanted to. >> but right now, you know, these cases are diametrically opposed. you have one talking about state law and the other talking about the federal reach. will one supersede the other? meaning, you know, if the federal law is reversed and there is a recognition of marriages of same-sex couples, then no matter what, states would have to recognize that, right? >> not necessarily. the federal law, and that's the second case
spent it all. >> jesse: only 30 million. >> clayton: and now talk about what the taxes look on all of this. can i play the opposite side. you win million, 25% of that lump tum gone to the federal government and 84 information gone to, 0 gone to the federal governme government. >> alisyn: and then new jersey has a high state tax as you can see, 10.8%, so 36 1/2 million will go to new jersey, i know you're thinking, can i move today to texas? and i know you shall the winner are listening and kudos for your ingenuity. yes, you might be able to move to a state with no state tax, but new jersey might still take it. >> jesse: and if chris christie has its way, going to get more of your dough because i think the 7.8 to 9.8, good luck. >> clayton: hallelujah. still taking home 216 million dollars. that's what he would get it end. >> jesse: what would you do with that kind of dough. >> alisyn: let's talk about that. >> clayton: i don't know. >> jesse: would you buy me a boat. >> clayton: i would buy you a boat first. i don't know helping starving children i would help jesse get a boat. >> j
, in terms of what they're doing with budget and taxes and everything else. host: we will talk with april -- reporter on the hill. ,et's go to fredericksburg virginia, republican, also a federal worker. caller: hi. i am with the department of defense, and we have done it numerous options on how to deal with the sequester. the department of defense has been hours with the sequester. it has certainly affected the tempo of our work. i think it is going to severely affect defense workers morale in a lot of ways. this is really ridiculous. both senatorsto from june -- virginia. unless they fix this things, i am not going to vote for them. atm looking very closely how my congressman is handling the situation. anything to doing fix it, i will try and vote him out, also. the congressmen are doing themselves a disservice. host: what is actually happening? you laid out a lot of discussions taking place at your workplace and terms of various scenarios, how things can be handled. a few, what is happening? caller: i am in education, and we have civilians students and military in the same classes. of t
in the unlikely, deep blue state of washington. talkingt door-to-door, about taxes and other items, and they flip them to a fiscally responsible majority, is. -- and they flipped them. the torch of liberty, the constitution in our country, will they perish or last? if we stand and speak for our principles, if we show americans our vision for the future, if we fight for freedom, our country will last. [applause] glasses with a powerful elite? the face ofnk in opposition? or will you stand boldly on principle? patriots, stand with us and fight for freedom, fight for our constitution, fight with us for the rights endowed by our creator, life, liberty, and the pursuit of happiness, fight for a better future, like ronald reagan did, like. paul, michele bachmann, scott walker. tea party patriots around this country do it every day. when you stand and fight, we will stand with you. when they fight on capitol hill, together, we will have their back. we will stand and fight for those who fight for us. fight for freedom. fight for a better future. fight. thank you so much. god bless you. god bless america.
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them properly now. so, i say use that $2,500 properly. it's a tax break. you should use it for what i call nonessential services. if you're not sick, figure out in advance, what can i use it for? >> neil: prescription -- >> prescription, trips to the doctor when you're not sick. when you're going into the hospital you want your health insurance to kick in. if not, you can use our flex spending account. >> neil: a lot of is just common sense, talking to your doctor. >> you'd be surprised how many people don't. ask your doctor, are you going to take obamacare insurance? medicare and medicaid? half the doctors in the country are not taking medicaid. >> i notice a lot of your colleagues are not dealing with insurance, give you the bill and pay in cash. and. >> you can have a negotiation before you could in. doc, your bill says $400 but maybe you'll see me for 200. doctors love cash. >> neil: what if they cut back on the care? i've never done this with my doctor before. cheap skate, you're going to get half the quality. >> that's the wrong doctor. you don't want to -- >> neil: my doctor's
,ave tax but neither would balance the budget in 10 years. also the congressional black caucus and the congressional progressive caucus will be introducing budget. it's possible a ryan version could be introduced in the senate. >> what is likely to happen in the senate this week? >> it will be democrats making the case for the patty murray budget. convince someto democratic senators who may not support that budget. they will have to sell it to democratic senators as well as republicans. no republicans are likely to vote for the budget. they will be calling for more spending cuts, no tax increases, balancing the budget sooner. >> republicans say this to be the first time in four years they have agreed to put forward a plan. why is this your difference? are a number of different things. there is a law that was passed that the members of congress will not get paid unless the have a budget resolution. , the debtwo years limit law basically established discretionary spending amounts, so you technically did not need a budget the last couple of years. also, democrats in the senate hav
a tax break from 39 to 25, that's a $200,000 tax break for the rich. >> bill: yes, that's right. it lowers it even beyond where george bush had lowered it yes. >> and a $5 trillion hole in the budget too they say when this is all done. >> bill: yeah but he makes up for that by getting rid of obamacare and medicare. >> caller: right it's $200,000 tax cut. >> bill: exactly. but russell it is a total sham and they know that and who are they kidding right? >> well, we got rid of our nut cases our last election in illinois. and they vow to get rid of kurt and this tea party guy from down state in the next election. illinois has had enough of the republicans. >> bill: well, i will hope that -- pardon me -- that that would be true with a lot of these tea party people, because that's who is driving the train here in the united states congress. russell good to hear from you. out in las vegas, nevada. lee joining us. hey, lee, good morning. >> caller: good morning, bill. how many times, bill are we going to hear about this -- i call him eddie munster budget? it's so pathe
exit from the euro. the rescue package scraps a controversial plan to put a tax on private bank deposits. but a top european official says europe may need help paying the bills. >> the euro area member-states are committed to assist cyprus in its adjustment process and have reaffirmed that the size of the financial assistance will amount to 10 billion euro. we would obviously welcome a contribution by the imf. heather: so, question is, who wins, who loses in this deal? stuart varney is the host of "varney & company" on the fox business network and he is here to answer that question for us. so who wins, who loses? >> heather, let's start with the oozers. the russian mob, number one. losers big-time. they will confiscate 30% or more of those depositers and money in the bank if they have got more than 100,000 euros. a lot of those people are russian. they will lose big-time. secondly, the cypriot people, they lose. the island is already in chaos and they face an economic depression. there are some forecasts that cyprus will lose 20% of its economy. that is a depression. so those tw
-partisan and bipartisan. someone who is non-partisan says higher taxes no taxes, no big deal. amnesty, deportation, whatever. but i think it's not about people abandoning their principles but finding common ground with people, even if they can't agree on everything, finding some things on which to agree. >> i was just a house member. >> president clickman. >> if anybody else would like a promotionless us know. we have another half an hour. >> members of congress as congressman talks about get elected to represent a district. we could have a long conversation about redistricting and about how in most states in this country if you are elected in a seat that is overwhelmingly a democrat or republican you are never going to lose that seat unless you compromise with somebody on the other side. but two people get elected by everybody in the united states. it seems to be i know this is something you've thought about given your time in the president. a president of the united states has a unique role to reach out to both sides in congress. without getting into a current events debate, i think we can agree
an amendment the medicalveal device tax in the 2010 health care law. again, the debate is underway. we caught up with a capitol hill reporter for inside information on the budget proposals in the house and senate. among the amendments they have debated and .ost: let's talk about the cr guest: congress is saying at least for today we avoided a showdown. the senate has passed it, the house passed it yesterday, and what it does is continue what we have seen from government funding. this is the era that we live in. rds that disagree on the way spending and taxes should go -- parties that disagree on the way spending and taxes should go. it keeps the sequester in place , although it does gives -- give .ome flexibility basically, it keeps in place what we thought we already had, which is a working government, sequester, and the ongoing pay freeze for federal workers. host: is the sequester here to i am starting to think that it has to be. twos harder to see how the sides reach an agreement when the democrats say let's replace half of it with taxes and republicans do not want that. i do not think de
for the first time in four years with tax hikes and budget cuts. it sounds reasonably constructive but is it less than meets the eye? abc's reena ninan is in washington this morning. what's the real story here. >> reporter: dan, you would think progress but really not really. no republican senator voted in favor of this budget. and the republican controlled house has their own very different plan. it's against the new taxes in the current senate plan and also calls for more spending cuts. the truth is neither budget plan will ever be put in and despite all that, the senate leaders sounded optimistic. >> i know everyone is exhausted and you may not feel it at the moment, but this is one of the senate's finest days in recent years. >> hard to understand why he sounds so optimistic calling this one of the finest days. there's another cliff looming. can you tell us about that? >> reporter: the senate and house will have to reconcile their differences. if not, surprise, there will be another showdown likely in august over the debt limit. >> your government at work. ladies and gentlemen.
in our currency. as part of the deal, this is the key. the local government raising taxes and puttings levies on some bank deposits. greg palkot is live outside parliament in the capitol of cyprus with more. greg? >> reporter: hey, jenna, the folks in cyprus right now are breathing a sigh of relief. they have avoided going under but at a cost. the deal struck with the european union was a tough one. probably why we saw protests here every day we've been here. one big bank will be shut down of the that will cost jobs. money from accounts of big uninsured depositers will be seized to the tune of 30% or more. small depositers will be spared but the little guys will suffer another way. the economy here is set to slow down. here is what we felt out on the streets of nicosia hire today. you might get some cash out of atm. in cyprus and there might be a bailout in place but in fact it is a holiday in this country. we talked to the folks here and their mood is definitelily not sunny. old money. you think that is better than the new money, the euros because of what happened? >> yes. because, be
, frankly, stop taxes, stop regulations, fewer lawsuits, let's help get small business out of the hole they are in, and it's just a classic example of how very little most of our elected officials understand how a business, a small business is run in america. that's just too bad. neil: all right. we'll watch closely. thank you, all, for your help today. we'll keep a close eye on all the developments and the president's trip and whether this economy is going to go up. tomorrow, a look at numbers you don't really quite see all the time that might beg that issue.y ♪ here's gerri willis. >> good evening, everybody. tonight, a cyberattack paralyzes banks an media companies in south korea. who is behind it? could it happen here? also, putting the brakes on high frequency traders. are they breaking the law and stealing your money? a new policy from one of the country's biggest companies. tell us your weight and body fat or face a fine. "the willis reprt" is on the case. >> all that and more, but first, a top story, a warning for you and your money, a big cybersecurity threat could be headed
relied on the more than $600 billion in tax revenue to help balance the budget. the senate considered five amendments yesterday as it started debating its budget resolution, but today's senators will consider several more starting at about 11:00 am eastern and then calling it a voter rama. but the process could take as long as ten hours. "politico" reports that one of the five that was passed yesterday was a recommendation to eliminate the medical device tax in the affordable care act. even though the votes are non-binding it could be an issue that could come up down the line, and help fund health care reform. device manufacturers don't like it for obvious reasons, and claim it will stifle innovation and kill jobs. and gun control is going to be the first order of business when the senate gets back from its two-week break. harry reid put a new package on the calendar. we're back after the break. stay with us. ♪ >> if you believe in state's rights but still support the drug war you must be high. >> "viewpoint" digs deep into the issues of the day. >> do you think
will be determined today. 40 percent of people's money could be taxed. it's interesting. this is like a tax the rich kind of thing going on there. >> all of the russian have their money parkd in cyprus. they had an opportunity to save cyprus, not so productive there. if you have less than 130,000 dollars in that bank it is okay. it is safe and it goes to the biggest bank in cyprus the bank of cyprus. >> the good news it won't hurt or markets. >> cyprus isn't out of the woods just yet. moody agency warning it is still at risk of default and it can exit the euro. that could see the euro zone through out the entire content. they will have painful consequences for cyprus. the gdp will be negative for quite sometime. right now there is how much money can be taken out of the atm 100 euros a day. there's panic over there. >> stars are going through and we don't want to have it here. >> it is time to take a look at who is talking this morning we are looking at the continuing national debate on guns. new york city mayor on michael bloomberg announcing a $12 million ad campaign for mayors against guns. in at
and samsung's executive. the package includes tax breaks and equipment reimbursements. the city of austin, texas was offering similar incentives in an effort to get samsung to move there. >>> sal is back. don't tell me we have caltrain delays, sal. >> we do. as a matter of fact, we do. unfortunately, these delays to be for a while, tori and dave. this is because of a train, a northbound train, 211, apparently hit someone. this is reportedly. we're trying to confirm. northbound train 211 has hit a pedestrian in mountain view. we can go to the maps. i'll show you that the area here that's where the train travels can be delayed for the entire system. the freeway nearby, not all that busy. unfortunately, when there are major caltrain delays, some people choose to drive. you might want to think about that if you are driving on 101 or on 280. we'll get more information on this. this is just coming in. let's go to live pictures. that's backed up for about a 15, 20 minute delay. finally got some help for that stalled vehicle we were talking about, the tow truck is there at the bottom of the scree
reed and samsung's executive. the package includes tax breaks and equipment reimbursements. the city of austin, texas was offering similar incentives in an effort to get samsung to move there. >>> sal is back. don't tell me we have caltrain delays, sal. >> we do. as a matter of fact, we do. unfortunately, these delays to be for a while, tori and dave. this is because of a train, a northbound train, 211, apparently hit someone. this is reportedly. we're trying to confirm. northbound train 211 has hit a pedestrian in mountain view. we can go to the maps. i'll show you that the area here that's where the train travels can be delayed for the entire system. the freeway nearby, not all that busy. unfortunately, when there are major caltrain delays, some people choose to drive. you might want to think about that if you are driving on 101 or on 280. we'll get more information on this. this is just coming in. let's go to live pictures. that's backed up for about a 15, 20 minute delay. finally got some help for that stalled vehicle we were talking about,
amendments on the keystone xl pipeline. there were amendments on the medical tax device that pays for obama care. there are amendments on all sorts of things that don't have to do with the budget. so it was as political as it was about policy last night. >> yeah. but amie, you know, democrats passing this first budget in four years here, how significant is that? and what does it call for? >> well, it's significant just like andy said. it's sort of all politics at play. but you know, it's so vastly different from what the republicans in the house want. so i don't think -- and it's different than what the president wants. so i think that list just posturing. you know patty murray expressed optimism. she said that they might be able to bridge that divide. but i'm rather skeptical of that, alex. >> yeah, i'm curious, andy, why do you think? because you've got one being passed by the democratically controlled senate, and then you've got the house, or the gop control, do you think there's any chance these two extreme budgets in terms of their perspectives, will be mitigated and something will be
life trying to figure out how to transfer wealth and not have taxes and all of that so there can be a dynasty of all kinds of little buffetts going around for hundreds of years never having to do anything. >> but don't cry for those little buffetts. howard, his brother, peter, and sister, susan, have gotten multimillion-dollar gifts of money and berkshire hathaway stock from their parents. so while he's not on the fortune 500, howard is by any measure a wealthy man. on top the outright gifts, each buffett child is getting $1 billion to go toward their philanthropy. but all that pales next to the $31 billion that's going to the gates foundation. so did you know, as far back as you can remember, that you were not going to inherit his money? >> yeah, yeah. >> you've sort of always known that as you were growing up? >> yeah. and from time to time, that was a little frustrating. >> 'cause you wanted it, or what do you mean? >> well, i just mean, you know, you feel like that there are a lot of things you could do if you had more money. and i think that way even in the foundation. >> bu
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